The syntheses of methacrylate‐ and styrene‐based monomers containing substituted pyridine ligands are reported. The preparation of the corresponding homopolymers has been performed by free radical polymerization by using 2,2′‐azoisobutyronitrile (AIBN) at 60 °C. The high molecular weights, up to 119 000 g · mol−1, and low glass transition (Tg) values (< −43 °C) have been obtained by the copolymerization reaction with butyl acrylate. The free metal homopolymer and copolymer were subsequently metalated by reaction with Re[phen(CO)3(acetone)]+. All polymer materials have been characterized by conventional experimental techniques, such as gel permeation chromatography (GPC), differential scanning calorimetry (DSC), and thermogravimetric analysis (TGA). UV‐Vis and fluorescence spectroscopy have been used to investigate the optical and photophysical properties of the polymers in solid‐state films and in solution. 1H NMR spectra confirmed the structure of the synthesized polymers and contributed to the estimate of the monomer sequences in the copolymer chains. Time‐resolved and emission‐quenching experiments in diluted solutions and on the solid films suggest application of the polymeric materials as oxygen sensors. The morphological aspects of some polymers containing a low amount of rhenium metal complexes have been investigated by scanning electron microscopy (SEM).